Pacer Advisors Inc. Reduces Stock Position in WESCO International, Inc. (NYSE:WCC)

Pacer Advisors Inc. lessened its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 99.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,642 shares of the technology company's stock after selling 1,230,340 shares during the period. Pacer Advisors Inc.'s holdings in WESCO International were worth $1,202,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in WESCO International during the 3rd quarter valued at about $28,000. GAMMA Investing LLC lifted its holdings in shares of WESCO International by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company's stock valued at $68,000 after purchasing an additional 75 shares during the last quarter. UMB Bank n.a. boosted its position in shares of WESCO International by 18.3% in the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company's stock worth $106,000 after purchasing an additional 98 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of WESCO International in the 3rd quarter worth approximately $221,000. Finally, Integrated Investment Consultants LLC bought a new position in WESCO International during the 4th quarter valued at approximately $278,000. 93.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WCC shares. Royal Bank of Canada increased their target price on WESCO International from $186.00 to $199.00 and gave the stock a "sector perform" rating in a research note on Friday, November 1st. KeyCorp increased their price objective on shares of WESCO International from $225.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Jefferies Financial Group lifted their target price on shares of WESCO International from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Baird R W raised shares of WESCO International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird boosted their price objective on shares of WESCO International from $215.00 to $223.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, WESCO International currently has an average rating of "Buy" and a consensus price target of $215.88.

Insider Buying and Selling at WESCO International

In other news, EVP William Clayton Geary sold 2,829 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $205.73, for a total value of $582,010.17. Following the completion of the sale, the executive vice president now directly owns 35,063 shares in the company, valued at $7,213,510.99. This represents a 7.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David S. Schulz sold 14,938 shares of WESCO International stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total value of $3,085,443.90. Following the transaction, the chief financial officer now owns 104,471 shares in the company, valued at $21,578,485.05. This trade represents a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

WESCO International Stock Performance

NYSE:WCC traded up $1.59 during trading hours on Thursday, reaching $187.78. The company had a trading volume of 535,012 shares, compared to its average volume of 581,621. The firm's 50 day moving average price is $189.01 and its 200-day moving average price is $179.06. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.32 and a beta of 2.01. The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99. WESCO International, Inc. has a 52 week low of $132.37 and a 52 week high of $216.17.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Friday, December 13th. WESCO International's dividend payout ratio (DPR) is presently 13.21%.

WESCO International Company Profile

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).